Real estate venture capital and DJM Capital Partners have Raised $ 95 million to refinance a 375,000 square foot mall in La Habra, Calif., Commercial Observer can first report.
3650 FPI is at the origin of the loan. The sponsors sought to refinance the existing bridging loan on the asset, and also to fund reserves for the continuous improvement of the center.
Located at 1641, imperial road, the shopping center is located in the northwestern part of Orange County, California, approximately 20 miles southeast of downtown Los Angeles. Rental at the center includes Sprout farmers market, Smart & Final, Ross dress for less, Royal Cinemas, Esporta / LA Fitness, Ulta Beauty and several national restaurant chains, including Chick-fil-A, Robin, Wendy’s and Starbucks.
Officials at Real Property Venture Capital and DJM Capital Partners could not immediately be reached for comment.
3650 REIT has been busy across the lending spectrum. She recently loaned $ 60.5 million Properties of Hunington‘ The Vic on Park Row, a 363-unit multi-family property spanning two four-story buildings in Houston.
The asset is located at 18210 Park Row in the Houston Energy Corridor, which is the region’s second largest employment center. The center includes more than 300 companies employing more than 94,000 people, including BP America, the ConocoPhillips company and Shell oil company.
The developers of The Vic on Park Row plan to offer amenities including a game room, entertainment area, business center, conference room, fitness center, club room, track bowling, an outdoor recreation area with swimming pool, barbecue area, covered cabanas, dog park and playground.
In total, 3,650 REITs granted more than $ 1.45 billion in loans in 2021.
“We have invested in a wide variety of property types backed by knowledgeable sponsors throughout 2021, taking a practical and tailored approach to each project.” Jonathan roth, co-founder and managing partner of 3650 REIT, told Commercial Observer. “In 2022, 3650 will continue its differentiated strategy of unlocking the value of trapped equity for borrowers already invested in projects through our preferred equity investment platform, while issuing further bridge and long-term loans from high quality.– while remaining committed to building lasting relationships with borrowers and investing in fundamentally sound deals. ”
Hunington Properties officials did not immediately respond to a request for comment.
Emily Fu can be reached at: [email protected].